Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to HK$1.02, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 9x in the Machinery industry in Hong Kong. Total returns to shareholders of 54% over the past three years. Upcoming Dividend • May 14
Upcoming dividend of HK$0.019 per share Eligible shareholders must have bought the stock before 21 May 2026. Payment date: 12 June 2026. Payout ratio is a comfortable 30% and the cash payout ratio is 80%. Trailing yield: 4.8%. Lower than top quartile of Hong Kong dividend payers (6.7%). Higher than average of industry peers (2.6%). Recent Insider Transactions • Apr 16
Co-Founder & Executive Chairman recently bought HK$680k worth of stock On the 13th of April, Hwo Jie Zhang bought around 830k shares on-market at roughly HK$0.82 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Hwo Jie has been a buyer over the last 12 months, purchasing a net total of HK$1.1m worth in shares. Reported Earnings • Apr 01
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: HK$0.14 (up from HK$0.14 in FY 2024). Revenue: HK$6.03b (down 4.3% from FY 2024). Net income: HK$244.6m (flat on FY 2024). Profit margin: 4.1% (up from 3.9% in FY 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 8.9%. Earnings per share (EPS) also missed analyst estimates by 12%. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Declared Dividend • Apr 01
Final dividend of HK$0.019 announced Shareholders will receive a dividend of HK$0.019. Ex-date: 21st May 2026 Payment date: 12th June 2026 Dividend yield will be 5.3%, which is higher than the industry average of 2.8%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend. Announcement • Mar 31
EVA Precision Industrial Holdings Limited, Annual General Meeting, May 19, 2026 EVA Precision Industrial Holdings Limited, Annual General Meeting, May 19, 2026. Announcement • Mar 18
EVA Precision Industrial Holdings Limited to Report Fiscal Year 2025 Results on Mar 30, 2026 EVA Precision Industrial Holdings Limited announced that they will report fiscal year 2025 results on Mar 30, 2026 Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$1.05, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 9x in the Machinery industry in Hong Kong. Total loss to shareholders of 20% over the past three years. Declared Dividend • Aug 30
First half dividend increased to HK$0.023 Dividend of HK$0.023 is 5.9% higher than last year. Ex-date: 12th September 2025 Payment date: 29th September 2025 Dividend yield will be 4.8%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (19% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 18% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 29
First half 2025 earnings released: EPS: HK$0.078 (vs HK$0.073 in 1H 2024) First half 2025 results: EPS: HK$0.078 (up from HK$0.073 in 1H 2024). Revenue: HK$3.06b (up 1.9% from 1H 2024). Net income: HK$134.9m (up 5.6% from 1H 2024). Profit margin: 4.4% (up from 4.3% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.1% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Machinery industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Aug 15
EVA Precision Industrial Holdings Limited to Report First Half, 2025 Results on Aug 27, 2025 EVA Precision Industrial Holdings Limited announced that they will report first half, 2025 results on Aug 27, 2025 Upcoming Dividend • May 15
Upcoming dividend of HK$0.02 per share Eligible shareholders must have bought the stock before 22 May 2025. Payment date: 12 June 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 5.7%. Lower than top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (3.9%). Declared Dividend • Mar 31
Final dividend increased to HK$0.02 Dividend of HK$0.02 is 0.5% higher than last year. Ex-date: 22nd May 2025 Payment date: 12th June 2025 Dividend yield will be 5.8%, which is higher than the industry average of 2.8%. Sustainability & Growth The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 32% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 30
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: EPS: HK$0.14 (up from HK$0.14 in FY 2023). Revenue: HK$6.30b (up 1.8% from FY 2023). Net income: HK$243.5m (up 2.7% from FY 2023). Profit margin: 3.9% (up from 3.8% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Machinery industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Mar 29
EVA Precision Industrial Holdings Limited, Annual General Meeting, May 20, 2025 EVA Precision Industrial Holdings Limited, Annual General Meeting, May 20, 2025. Announcement • Mar 18
EVA Precision Industrial Holdings Limited to Report Fiscal Year 2024 Results on Mar 28, 2025 EVA Precision Industrial Holdings Limited announced that they will report fiscal year 2024 results on Mar 28, 2025 Price Target Changed • Feb 03
Price target decreased by 13% to HK$1.30 Down from HK$1.50, the current price target is provided by 1 analyst. New target price is 110% above last closing price of HK$0.62. Stock is down 6.1% over the past year. The company is forecast to post earnings per share of HK$0.14 for next year compared to HK$0.14 last year. Reported Earnings • Sep 22
First half 2024 earnings released: EPS: HK$0.073 (vs HK$0.07 in 1H 2023) First half 2024 results: EPS: HK$0.073 (up from HK$0.07 in 1H 2023). Revenue: HK$3.00b (up 4.8% from 1H 2023). Net income: HK$127.8m (up 4.2% from 1H 2023). Profit margin: 4.3% (in line with 1H 2023). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Machinery industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Declared Dividend • Aug 30
First half dividend increased to HK$0.022 Dividend of HK$0.022 is 4.8% higher than last year. Ex-date: 9th September 2024 Payment date: 26th September 2024 Dividend yield will be 6.3%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is covered by earnings (14% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 47% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 16
EVA Precision Industrial Holdings Limited to Report Q2, 2024 Results on Aug 28, 2024 EVA Precision Industrial Holdings Limited announced that they will report Q2, 2024 results on Aug 28, 2024 Buy Or Sell Opportunity • Jul 02
Now 16% overvalued The stock has been flat over the last 90 days, currently trading at HK$0.73. The fair value is estimated to be HK$0.63, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 6.1% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Buy Or Sell Opportunity • Jun 24
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 5.5% to HK$0.77. The fair value is estimated to be HK$0.63, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 6.1% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Recent Insider Transactions • Jun 23
Co-Founder recently bought HK$2.2m worth of stock On the 20th of June, Yaohua Zhang bought around 3m shares on-market at roughly HK$0.72 per share. This transaction amounted to 6.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Yaohua has been a buyer over the last 12 months, purchasing a net total of HK$7.4m worth in shares. Upcoming Dividend • May 15
Upcoming dividend of HK$0.02 per share Eligible shareholders must have bought the stock before 22 May 2024. Payment date: 12 June 2024. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 4.9%. Lower than top quartile of Hong Kong dividend payers (7.5%). Higher than average of industry peers (2.9%). Reported Earnings • Apr 28
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: HK$0.14 (up from HK$0.12 in FY 2022). Revenue: HK$6.18b (down 1.4% from FY 2022). Net income: HK$237.1m (up 15% from FY 2022). Profit margin: 3.8% (up from 3.3% in FY 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 8.7%. Earnings per share (EPS) also missed analyst estimates by 2.9%. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Apr 24
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 4.2% to HK$0.75. The fair value is estimated to be HK$0.61, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Apr 08
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.3% to HK$0.72. The fair value is estimated to be HK$0.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 35% in 2 years. Earnings are forecast to grow by 48% in the next 2 years. Announcement • Mar 29
EVA Precision Industrial Holdings Limited, Annual General Meeting, May 20, 2024 EVA Precision Industrial Holdings Limited, Annual General Meeting, May 20, 2024. Reported Earnings • Mar 29
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: HK$0.14 (up from HK$0.12 in FY 2022). Revenue: HK$6.18b (down 1.4% from FY 2022). Net income: HK$237.1m (up 15% from FY 2022). Profit margin: 3.8% (up from 3.3% in FY 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 8.7%. Earnings per share (EPS) also missed analyst estimates by 2.9%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Machinery industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Mar 28
Eva Precision Industrial Holdings Limited Proposes Final Dividend for the Year Ended December 31, 2023, Payable on June 12, 2024 EVA Precision Industrial Holdings Limited proposed final dividend of HKD 0.0199 per share for the year ended December 31, 2023. Date of shareholders' approval is May 20, 2024. Ex-dividend date is May 22, 2024. Record date is May 28, 2024. Payment date is June 12, 2024. Buy Or Sell Opportunity • Mar 22
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to HK$0.72. The fair value is estimated to be HK$0.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 29% in 2 years. Earnings are forecast to grow by 43% in the next 2 years. Announcement • Mar 19
EVA Precision Industrial Holdings Limited to Report Fiscal Year 2023 Results on Mar 28, 2024 EVA Precision Industrial Holdings Limited announced that they will report fiscal year 2023 results on Mar 28, 2024 Buy Or Sell Opportunity • Jan 22
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to HK$0.65. The fair value is estimated to be HK$0.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 29% in 2 years. Earnings are forecast to grow by 43% in the next 2 years. Recent Insider Transactions • Nov 26
Co-Founder & Executive Chairman recently bought HK$385k worth of stock On the 23rd of November, Hwo Jie Zhang bought around 500k shares on-market at roughly HK$0.77 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth HK$1.7m. Hwo Jie has been a buyer over the last 12 months, purchasing a net total of HK$2.9m worth in shares. Recent Insider Transactions • Nov 15
Co-Founder & Executive Chairman recently bought HK$228k worth of stock On the 13th of November, Hwo Jie Zhang bought around 300k shares on-market at roughly HK$0.76 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth HK$1.7m. Hwo Jie has been a buyer over the last 12 months, purchasing a net total of HK$2.5m worth in shares. Recent Insider Transactions • Oct 27
Co-Founder & Executive Chairman recently bought HK$1.1m worth of stock On the 24th of October, Hwo Jie Zhang bought around 2m shares on-market at roughly HK$0.71 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Hwo Jie's only on-market trade for the last 12 months. Reported Earnings • Sep 02
First half 2023 earnings released: EPS: HK$0.07 (vs HK$0.059 in 1H 2022) First half 2023 results: EPS: HK$0.07 (up from HK$0.059 in 1H 2022). Revenue: HK$2.86b (down 2.6% from 1H 2022). Net income: HK$122.6m (up 20% from 1H 2022). Profit margin: 4.3% (up from 3.5% in 1H 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Machinery industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 01
Upcoming dividend of HK$0.021 per share at 5.2% yield Eligible shareholders must have bought the stock before 08 September 2023. Payment date: 25 September 2023. Payout ratio is a comfortable 14% but the company is paying out more than the cash it is generating. Trailing yield: 5.2%. Lower than top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (2.6%). Announcement • Aug 30
EVA Precision Industrial Holdings Limited Announces Interim Dividend for the Six Months Ended 30 June 2023, Payable on 25 September 2023 EVA Precision Industrial Holdings Limited announced interim dividend of HKD 0.021 per share for the six months ended 30 June 2023. Dividend payable on 25 September 2023 and record date of 14 September 2023. Announcement • Aug 18
EVA Precision Industrial Holdings Limited to Report First Half, 2023 Results on Aug 29, 2023 EVA Precision Industrial Holdings Limited announced that they will report first half, 2023 results on Aug 29, 2023 Board Change • Jul 26
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Imma Ling was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Jul 23
Eva Precision Industrial Holdings Limited Announces Appointment of Ms. Zhang Yan Yi as Executive Director The board of directors of EVA Precision Industrial Holdings Limited announce that Ms. Zhang Yan Yi ("Ms. Zhang") was appointed as an executive director of the Company with effect from 21 July 2023. Ms. Zhang, aged 27, graduated from Royal Holloway University of London and Durham University. She obtained a bachelor's degree in Science (Economics) (First Class Honors) at the Royal Holloway University of London in 2018 and a Master of Science (Management) degree at Durham University in 2020. Ms. Zhang joined the Group in 2020 and she is mainly responsible for the Group's production management and risk management. Ms. Zhang is also a director of certain subsidiaries of the Group. As at the date of this announcement, Ms. Zhang has personal interests (within the meaning of Part XV of the Securities and Futures Ordinance (Cap. 571) of the Law of Hong Kong) (the "SFO") in options to subscribe for 400,000 shares of the Company under the share option scheme adopted by the Company on 21 May 2015. Ms. Zhang has entered into a service agreement with the Company for a period of two years commencing from 21 July 2023, which can be terminated by either party giving to the other party not less than one month's prior written notice. She is subject to retirement by rotation and re-election at the annual general meetings of the Company under the Company's Articles of Association. Ms. Zhang is entitled to a monthly salary of HK$50,000 and a fixed one-month bonus. She is also entitled under her service agreement to a discretionary year-end bonus of an amount to be determined by the Board and the remuneration committee of the Company. The emoluments of Ms. Zhang are determined by reference to her experience, job responsibilities within the Group and the prevailing market conditions. Ms. Zhang is a daughter of Mr. Zhang Hwo Jie, an executive director of the Company and the chairman of the Board; and a niece of both Mr. Zhang Jian Hua, an executive director of the Company and the vice chairman of the Board, and Mr. Zhang Yaohua, an executive director and the chief executive of the Group. Upcoming Dividend • May 15
Upcoming dividend of HK$0.018 per share at 4.2% yield Eligible shareholders must have bought the stock before 22 May 2023. Payment date: 09 June 2023. Payout ratio is a comfortable 30% but the company is paying out more than the cash it is generating. Trailing yield: 4.2%. Lower than top quartile of Hong Kong dividend payers (7.6%). Higher than average of industry peers (2.6%). Reported Earnings • Mar 31
Full year 2022 earnings released: EPS: HK$0.12 (vs HK$0.09 in FY 2021) Full year 2022 results: EPS: HK$0.12 (up from HK$0.09 in FY 2021). Revenue: HK$6.27b (up 23% from FY 2021). Net income: HK$206.0m (up 33% from FY 2021). Profit margin: 3.3% (up from 3.0% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Machinery industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 03
Price target decreased by 11% to HK$2.29 Down from HK$2.57, the current price target is an average from 2 analysts. New target price is 97% above last closing price of HK$1.16. Stock is down 17% over the past year. The company posted earnings per share of HK$0.09 last year. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to HK$1.41, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 13x in the Machinery industry in Hong Kong. Total returns to shareholders of 174% over the past three years. Announcement • Jan 31
Eva Precision Industrial Holdings Limited Provides Unaudited Earnings Guidance for the Twelve Months Ended 31 December 2022 EVA Precision Industrial Holdings Limited provided unaudited earnings guidance for the twelve months ended 31 December 2022. For the period, the group is expected to record a profit for the year ended 31 December 2022 of approximately HKD 202 million to HKD 220 million, representing a year-on-year increase between 30% and 42%. The expected increase in profit is mainly due to the following: (i) a rapid increase in the Group's office automation equipment revenue in Vietnam driven by a surge in orders, which also caused a substantive rise in the utilisation of the production capacity with respect to the Group's Vietnam production facilities; (ii) considerable growth in the Group's automotive component business in Mexico due to a continuous increase in orders; (iii) an increase in both the revenue and overall profitability of the Group's office automation equipment business in Shenzhen as a result of the synergy effect that has been achieved following the acquisition of Shenzhen EVA Technology Intelligent Manufacturing Co. Ltd. (formerly known as Futaba Metal Products (Shenzhen) Co. Ltd.) in April 2021; and (iv) effective cost control strategies implemented by the Group to manage selling and administrative expenses. Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improved over the past week After last week's 16% share price gain to HK$1.14, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 12x in the Machinery industry in Hong Kong. Total returns to shareholders of 114% over the past three years. Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improved over the past week After last week's 16% share price gain to HK$1.25, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 10x in the Machinery industry in Hong Kong. Total returns to shareholders of 131% over the past three years. Valuation Update With 7 Day Price Move • Oct 24
Investor sentiment deteriorated over the past week After last week's 16% share price decline to HK$1.05, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Machinery industry in Hong Kong. Total returns to shareholders of 84% over the past three years. Reported Earnings • Aug 31
First half 2022 earnings released: EPS: HK$0.059 (vs HK$0.04 in 1H 2021) First half 2022 results: EPS: HK$0.059 (up from HK$0.04 in 1H 2021). Revenue: HK$2.94b (up 23% from 1H 2021). Net income: HK$102.7m (up 51% from 1H 2021). Profit margin: 3.5% (up from 2.8% in 1H 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 25%, compared to a 10% growth forecast for the Machinery industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improved over the past week After last week's 24% share price gain to HK$1.65, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Machinery industry in Hong Kong. Total returns to shareholders of 176% over the past three years. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improved over the past week After last week's 16% share price gain to HK$1.57, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Machinery industry in Hong Kong. Total returns to shareholders of 148% over the past three years. Recent Insider Transactions • May 26
Co-Founder & Executive Chairman recently bought HK$1.3m worth of stock On the 24th of May, Hwo Jie Zhang bought around 1m shares on-market at roughly HK$1.33 per share. This was the largest purchase by an insider in the last 3 months. Hwo Jie has been a buyer over the last 12 months, purchasing a net total of HK$2.6m worth in shares. Buying Opportunity • May 16
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 22%. The fair value is estimated to be HK$1.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 22% per annum. Earnings is also forecast to grow by 46% per annum over the same time period. Upcoming Dividend • May 13
Upcoming dividend of HK$0.015 per share Eligible shareholders must have bought the stock before 20 May 2022. Payment date: 09 June 2022. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 2.3%. Lower than top quartile of Hong Kong dividend payers (7.8%). Lower than average of industry peers (3.6%). Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improved over the past week After last week's 20% share price gain to HK$1.52, the stock trades at a trailing P/E ratio of 17.1x. Average trailing P/E is 10x in the Machinery industry in Hong Kong. Total returns to shareholders of 109% over the past three years. Reported Earnings • Apr 01
Full year 2021 earnings released: EPS: HK$0.09 (vs HK$0.009 loss in FY 2020) Full year 2021 results: EPS: HK$0.09 (up from HK$0.009 loss in FY 2020). Revenue: HK$5.11b (up 27% from FY 2020). Net income: HK$155.2m (up HK$170.6m from FY 2020). Profit margin: 3.0% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improved over the past week After last week's 17% share price gain to HK$1.28, the stock trades at a trailing P/E ratio of 18.9x. Average trailing P/E is 11x in the Machinery industry in Hong Kong. Total returns to shareholders of 62% over the past three years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 16% share price decline to HK$1.42, the stock trades at a trailing P/E ratio of 21x. Average trailing P/E is 11x in the Machinery industry in Hong Kong. Total returns to shareholders of 76% over the past three years. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment deteriorated over the past week After last week's 17% share price decline to HK$1.54, the stock trades at a trailing P/E ratio of 22.7x. Average trailing P/E is 11x in the Machinery industry in Hong Kong. Total returns to shareholders of 123% over the past three years. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment deteriorated over the past week After last week's 23% share price decline to HK$1.50, the stock trades at a trailing P/E ratio of 22.1x. Average trailing P/E is 12x in the Machinery industry in Hong Kong. Total returns to shareholders of 143% over the past three years. Recent Insider Transactions Derivative • Nov 17
Independent Non-Executive Director exercised options and sold HK$544k worth of stock On the 11th of November, Hiu Lo Lam exercised 400k options at a strike price of around HK$1.10 and sold these shares for an average price of HK$2.46 per share. This trade did not impact their existing holding. As of today, Hiu Lo currently holds no shares directly. Company insiders have collectively sold HK$6.3m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Nov 03
Co-Founder & Executive Vice Chairman exercised options and sold HK$178k worth of stock On the 28th of October, Jian Hua Zhang exercised 600k options at a strike price of around HK$1.10 and sold these shares for an average price of HK$1.40 per share. This trade did not impact their existing holding. Since December 2020, Jian Hua has owned 664.00k shares directly. Company insiders have collectively bought HK$1.0m more than they sold, via options and on-market transactions, in the last 12 months. Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment improved over the past week After last week's 46% share price gain to HK$1.05, the stock trades at a trailing P/E ratio of 15.3x. Average trailing P/E is 12x in the Machinery industry in Hong Kong. Total returns to shareholders of 86% over the past three years. Upcoming Dividend • Sep 02
Upcoming dividend of HK$0.012 per share Eligible shareholders must have bought the stock before 09 September 2021. Payment date: 24 September 2021. Trailing yield: 2.9%. Lower than top quartile of Hong Kong dividend payers (6.6%). Higher than average of industry peers (2.4%). Reported Earnings • Aug 29
First half 2021 earnings released: EPS HK$0.04 (vs HK$0.038 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: HK$2.39b (up 40% from 1H 2020). Net income: HK$67.9m (up HK$133.7m from 1H 2020). Profit margin: 2.8% (up from net loss in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Reported Earnings • Apr 19
Full year 2020 earnings released: HK$0.009 loss per share (vs HK$0.03 profit in FY 2019) The company reported a soft full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: HK$4.01b (up 7.0% from FY 2019). Net loss: HK$15.4m (down 130% from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 30
Full year 2020 earnings released: HK$0.009 loss per share (vs HK$0.03 profit in FY 2019) The company reported a soft full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: HK$4.01b (up 7.0% from FY 2019). Net loss: HK$15.4m (down 130% from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Jan 08
New 90-day high: HK$0.77 The company is up 69% from its price of HK$0.46 on 09 October 2020. The Hong Kong market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 9.0% over the same period. 
